Get Answers to Your Questions

Here are our most frequently asked questions with answers.

Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk.
Representative Example: Amount of credit: £250 for 74 days with one repayment of £74.00 and one repayment of £324.00. Total repayment: £398.00. Interest: £148.00. Interest rate: 292% pa (fixed). 1300.5% APR Representative.

Am I eligible to make a claim?

No. The Online Claims Portal closed on 14 February 2021.

Customers are not able to submit a claim after 14 February 2021.

If I believe I have been treated unfairly and am owed some money, i.e. I have a complaint, what should I do?

The window for submitting an unaffordability/ redress complaint has now closed.

How will I know it is CashEuroNet contacting me?

Emails that you receive will be from a "@casheuronetuk.co.uk" or "@mail.casheuronetuk.co.uk", or "@uk.gt.com" email address. If in doubt, please contact the CashEuroNet Customer Support Team on 0800 0163 250

How do I request my data?

Any customer who wishes to see their contract, emails or account information can submit a DSAR by emailing DSAR@enova.com

Should I contact the Financial Ombudsman Service?

No, following CashEuroNet entering administration, the Financial Ombudsman Service has passed all outstanding and any new complaints/claims to the Joint Administrators for consideration.

Will the Financial Services Compensation Scheme (FSCS) pay my claim?

No, the FSCS does not cover claims under consumer credit agreements. See https://www.fca.org.uk/publication/consultation/cp16-42.pdf

When will I know if my claim has been assessed?

You should receive the outcome of your assessment via email within 120 days of making your claim through the Online Claims Portal. We will email you if there is any unexpected delay regarding the assessment of your claim.

If your claim is rejected, we will email you with an explanation of the rejection and an explanation of any further actions you can take.

Please note that if your claim consists of one or more loan(s) that were sold to a third party, it may take up to 90 days to receive the outcome of your assessment. You will be notified if you are in this position.

What does it mean if my claim is agreed?

If your claim is agreed, you will be given an "Accepted claim value".

It is important to note that the payment you receive will be considerably smaller than your accepted claim value. This is because it is expected that the total value of all accepted claims received will significantly exceed the money available to be shared out. The money available to be shared out will not be known until all of CashEuroNet's assets have been sold or realised and certain costs and deductions have been taken into account.

How will you calculate the value of my claim?

Your claim/loan (s) will be assessed against a number of different affordability criteria held on CashEuroNet’s systems. The assessment tool will consider (but not limited to) the following:

  1. The customer’s loan value as a proportion of their reported income;
  2. The total time in loan, or number of loans to identify repeat borrowing without a significant break; and
  3. Additional affordability factors, e.g. payments in arrears of customer hardship

When we send your assessment email, we will provide sufficient information for you to understand how your claim has been calculated.

Please note that any loans that have been previously compensated will not be re-assessed by the Joint Administrators

If my claim is agreed, will you remove the loans from my credit file?

Yes, it is our intention to do so, albeit given the number of claims we are expecting to receive this may take a number of months after you have received your assessment.

If my claim is agreed, will I receive interest on my claim?

Yes, statutory interest will be added to your claim at 8% up to the date of the administration (25 October 2019).

If my claim is agreed, will my claim take into account fees and charges I had to pay?

Yes, statutory interest will be added to the net amount of any agreed loan(s) at 8% up to the date of the administration (25 October 2019). You will not be awarded any interest for the delay between the date of administration and eventual date of dividend.

If my claim is agreed and I do not agree with how it has been valued i.e. the amount offered, what can I do?

The Joint Administrators have designed the assessment process to identify unaffordable loans. If you do not agree with the calculation amount (including if your claim has been rejected entirely), you will have 21 days to respond to the Joint Administrators in writing (by email or post) with the reason(s) for your disagreement and evidence to support this reasoning.

If you do not provide us with evidence as to why you disagree with the decision, we cannot investigate your appeal.

Please note the following are NOT grounds for a successful appeal:

1) If you disagree with your final payment (the value to be distributed) being smaller than the accepted claim value
2) If you have been redressed previously for the loan(s)

If my claim is agreed, how much money will I receive?

Please be aware, if successful, the payment you receive will be considerably smaller than your accepted claim value. This is because it is expected that the total value of all accepted claims received will significantly exceed the money available to be shared out. The money available to be shared out will not be known until all of CashEuroNet's assets have been sold or realised and certain costs and deductions have been taken into account.

Who will payments be made to?

Any payment to successful claimants will in the first instance be paid to the most up-to-date bank account CashEuroNet currently has provided CashEuroNet UK, LLC.

Please be aware, if successful, the payment you receive will be considerably smaller than your accepted claim value. This is because it is expected that the total value of all accepted claims received will significantly exceed the money available to be shared out. The money available to be shared out will not be known until all of CashEuroNet’s assets have been sold or realised and certain costs and deductions have been taken into account.

For 3rd Party Claims:

It is important to note that under the Insolvency Act and Rules, if we do not receive direct instructions from your client requesting that payment be made to you, we cannot direct any dividend payments to you, regardless of the terms of the Letter of Authority. Whilst we will request that customers confirm to us where payment should be directed, if you do wish for payment to be made directly to you, it is your responsibility to request that you client provides this instruction to the Administrators by emailing Claims@CEU.co.uk with their claim reference number.

Please be aware, if successful, the payment your client will receive will be considerably smaller than the accepted claim value. This is because it is expected that the total value of all accepted claims received will significantly exceed the money available to be shared out. The money available to be shared out will not be known until all of CashEuroNet’s assets have been sold or realised and certain costs and deductions have been taken into account

How do I update my personal or banking details?

It is your responsibility to ensure that your personal details are kept up to date.

Please contact the CashEuroNet Customer Support Team on 0800 0163 250 if your details have changed since you submitted your claim.

What is the withholding tax charge element to my claim?

If your claim is accepted, we may be required by law to withhold 20% tax from the dividend payment amount which relates to the 8% statutory interest element of your claim. This will be detailed in your assessment email.

Further information can be found here:
https://www.gov.uk/hmrc-internal-manuals/savings-and-investment-manual/saim9115

If you have any further questions on this, you should seek independent tax advice.

Who can I contact for an update on my claim?

For any information in relation to your existing claim, please contact the CashEuroNet Customer Support Team on 0800 0163 250

What should I do if I am approached by someone saying they work for CashEuroNet or Grant Thornton or the Joint Administrators and want to help me submit a claim?

The deadline for submitting a claim has now closed.

Do not give details of your claim to anyone who approaches you, alleging that he or she works for Grant Thornton or CashEuroNet, or otherwise.

If you do require assistance or are unsure as to the validity of any correspondence you have received, please contact the CashEuroNet Customer Support Team on 0800 0163 250.

What should I do if someone has indicated they can ensure I can get a higher claim amount, but I have to pay them a fee first?

The Joint administrators are under a duty to treat each claim equally. Every claim will therefore be assessed in the same way, irrespective of who submits the claim. As mentioned previously, customers do not need to use a Claims Management Company (CMC) or third party to submit a claim on the Online Claims Portal. Using a CMC or third party will not accelerate the claims process, nor entitle you to a higher claim amount. It may also expose you to charges that may be deducted from any final payment you might receive.

Have the Joint Administrators sold any customer loans?

Yes. The Joint Administrators have sold various customer accounts to a third-party debt purchaser, Lantern.

Legal and beneficial title of all loans sold will belong to the debt purchaser.

If you are unsure or have any concerns, please contact the CashEuroNet Customer Support Team on 0800 0163 250.

How do I know if my loan has been sold?

Customers will be contacted directly by Lantern if their loan has been sold.

If you are unsure or have any concerns, please contact the CashEuroNet Customer Support Team on 0800 0163 250.

Who has my loan been sold to?

The Joint Administrators have sold various customer accounts to a third-party debt purchaser, Lantern.

Legal and beneficial title of all loans sold will belong to the debt purchaser.

If you are unsure or have any concerns, please contact the CashEuroNet Customer Support Team on 0800 0163 250.

How can I contact Lantern?

Customers should contact Lantern by email on customerservice@lanternuk.com or phone at 0113 887 6876. Opening hours are Monday to Friday 8am to 7pm and Saturday from 9am to 2pm. They are closed on Sunday.

If you are unsure or have any concerns, please contact the CashEuroNet Customer Support Team on 0800 0163 250.

Have all loans been sold to Lantern?

No. Certain customer accounts have not been sold. The Joint Administrators will communicate to these customers on the status of their loan in due course.

If you are unsure or have any concerns, please contact the CashEuroNet Customer Support Team on 0800 0163 250

What is happening to loans that have not been sold?

Following the execution of the debt sale, the Joint Administrators will be commencing a wind-down of the operations, including all collection activity.

Customers will be unable to make any loan repayments after [23 August 2021]

If you are unsure or have any concerns, please contact the CashEuroNet Customer Support Team on 0800 0163 250

What will happen if I haven’t repaid my loan by 23 August 2021?

If it is determined that your loan remains payable, and you are unable to repay your loan by 23 August 2021 we cannot issue statutory notices and your credit file will continue to reflect your outstanding loan in its current status.

If you are unsure or have any concerns, please contact the CashEuroNet Customer Support Team on 0800 0163 250

I have been offered a loan settlement. How can I make this payment?

To repay your settlement offer, please contact the Customer Support team by phone on 0808 234 4561 (for all QuickQuid loans) or 0800 210 0926 (for all On Stride Financial loans).

If you are unsure or have any concerns, please contact the CashEuroNet Customer Support Team on 0800 0163 250.

Can I take out a new loan or add additional funds to my existing loan?

The Joint Administrators are unable to provide further lending from the date of the administration appointment.

How can I find out the current status and value of my loan?

If you are unsure or have any concerns, please contact the CashEuroNet Customer Support Team on 0800 0163 250.

I need to talk to someone about my loan or I have a question which is not answered here

Please contact the CashEuroNet Customer Support Team on 0800 0163 250

How will my credit file be updated once collections have closed?

For customers who remain with CEU, on closure of collections, credit files will be updated in accordance with the customers’ final loan status. For more information, please contact the CashEuroNet Customer Support Team on 0800 0163 250